I think it's normal to be suspicious and cautious when something seems to good to be true. I certainly was, until I read the whitepaper and saw how thoroughly the platform model had been thought out. From incentivizing strong hand investors, to the overall economic structure of Steemit. Most of all, if it is a ponzi scheme, well it's the first one I know where you can sign up and use the platform completely for free.
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I have something of an advantage in that I know most of the team behind Steem personally and I know what caliber of individuals they are. They're doing this out of an honest desire to make the world a better place. Now folks can argue about whether they're going to accomplish it, but there's simply no question: it's not a scam. Dan has been quite clear about what his long-term vision for this platform is, and it doesn't involve getting rich quick and moving on to the next con.